Qorvo (NASDAQ:QRVO) had its price target lifted by analysts at Morgan Stanley from $70.00 to $74.00 in a research note issued on Thursday. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential downside of 11.21% from the company’s current price.
Other research analysts have also issued reports about the stock. Canaccord Genuity increased their target price on shares of Qorvo from $81.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of Qorvo in a research note on Thursday, November 2nd. Drexel Hamilton reissued a “buy” rating and set a $95.00 target price on shares of Qorvo in a research note on Thursday, November 2nd. JPMorgan Chase & Co. set a $88.00 price objective on shares of Qorvo and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, ValuEngine raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Qorvo currently has an average rating of “Hold” and an average target price of $79.60.
Shares of Qorvo (NASDAQ QRVO) traded up $11.57 during midday trading on Thursday, reaching $83.34. 10,690,901 shares of the company traded hands, compared to its average volume of 2,466,087. The company has a market capitalization of $10,400.00 and a price-to-earnings ratio of -595.29. Qorvo has a fifty-two week low of $61.12 and a fifty-two week high of $85.24. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80.
In other news, insider Robert A. Bruggeworth sold 5,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $77.03, for a total value of $385,150.00. Following the completion of the sale, the insider now owns 193,344 shares in the company, valued at $14,893,288.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James L. Klein sold 2,600 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $77.58, for a total transaction of $201,708.00. Following the completion of the sale, the vice president now owns 42,993 shares of the company’s stock, valued at approximately $3,335,396.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,096 shares of company stock valued at $3,968,257. 0.91% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of Qorvo in the third quarter valued at about $130,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Qorvo by 79.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after buying an additional 1,000 shares during the last quarter. Advisor Group Inc. increased its holdings in Qorvo by 5.1% during the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after buying an additional 126 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in Qorvo during the second quarter worth about $188,000. Finally, Zeke Capital Advisors LLC purchased a new stake in Qorvo during the third quarter worth about $206,000. Institutional investors own 96.49% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Qorvo (QRVO) PT Raised to $74.00 at Morgan Stanley” was first published by American Market News and is owned by of American Market News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/02/01/qorvo-qrvo-pt-raised-to-74-00-at-morgan-stanley.html.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
